South African firms seek partners in HCM City

The enterprises are active in a variety of
fields, ranging from footwear, garments and textiles, wood and timber
products to computers, mobile phones and spare parts, seafood and
agriculture.

Speaking at a workshop held in the city
on May 25, the Director of Investment Promotion under the South African
Department of Industry and Trade, Brian Soldaat, acknowledged Vietnam
and HCM City in particular as one of attractive destinations for
South African firms.

He said South Africa
offered a number of incentives for foreign investors, including its
investment refund policy, depending on the scale of investments.

The country applies preferential regulations in certain fields, such
as the manufacturing of household utensils and electronic equipment,
garments and textiles, and wood and timber products. Furthermore, the
country is applying a number of policies to boost domestic and foreign
investment in automobile spare parts, green industry and green energy,
tourism, medical equipment and pharmaceutical products.

The Deputy Director of the Vietnam Chamber of Commerce and Industry
(VCCI)’s branch in HCM City, Nguyen The Hung, highlighted the signing of
a cooperation agreement between the VCCI and the Chambers of Commerce
and Industry of South Africa (CHAMSA) and the establishment of the
Vietnam-South Africa Business Council in 2010 as a strong foundation for
promoting the two countries’ enterprises.

He noted
that bilateral trade reached over 962 million USD last year, with
Vietnamese exports accounting for 815 million USD.-VNA